Town Centre Securities (GB:TOWN) has released an update.
Town Centre Securities PLC has announced a change to its interim dividend payment to a Property Income Distribution of 2.5 pence per share, along with an additional special interim dividend of 6 pence per share, to be paid on June 14, 2024. The special dividend fulfills the company’s requirement to distribute 90% of its tax-exempt property rental profits following its exit from the REIT regime. Looking ahead, TCS anticipates resuming regular dividend payments biannually from March 2025, moving away from the REIT-based distributions.
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